Apple iPhone sales slump
 

But higher prices still means Job's Mob still makes more money

The Tame Apple Press is celebrating the fact that its favourite company managed to make more money in the third quarter. Apple’s revenues were up to $53.3 billion vs. $52.34 billion last year.

Apple reportedly sold 41.3 million iPhones in the last quarter and 11.55 million iPads, both beating Wall Street estimates. The average selling price of iPhones last quarter was $724, versus the expected $693.59. Apple also sold 3.7 million Mac computers.

Like most of the news about Apple, it failed to tell the whole story, Apple sold 41.3 million iPhones in the fiscal third quarter, half a million less than expected. But the Tame Apple Press said that it is ok to ignore that because the average iPhone selling price topped expectation by $30, hitting $724, according to FactSet.

Apple Chief Financial Officer Luca Maestri said that customers were buying costlier models and the $999 iPhone X was the quarter’s best seller.

We live in a rather strange world where sales of a phone can slump but people can cheer because a company made profits by charging customers more money for the same product. Effectively Apple is keeping its stonking profits by leaning on its customer base and charging them more.

Sooner or later Apple fans are going to get wise to that and get rather hacked off.

Apple is expected to launch new iPhone models at the end of the quarter, in mid-September and it will have to come up with something much more special than what is currently rumoured.

Apple has had little luck moving into other areas. Its much touted services revenue has been doing well and been outpacing iPhone revenue growth for several quarters. But it still is only 15 percent of Apple’s total revenue.

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